Helios Capital, promoted by the leading fund manager Samir Arora, will become the sponsor of 44th fund house with the market regulator Securities and Exchange Board of India (SEBI) approving its application on Sunday.
Making the announcement on his twitter handle, Arora said SEBI i had granted Helios Capital in-principle approval to sponsor Helios Mutual Fund.
“We deeply respect this approval and will work hard to offer mutual funds for retail investors, focusing on performance and service,” he added. Helios expects to launch the first scheme in 6-8 months with the focus on equity funds.
Nearly 19 years after he quit Alliance Capital Mutual Fund, Arora is looking to re-enter the ₹37 lakh crore mutual fund industry.
Helios applied for an MF licence last February, and is now registered with SEBI to offer portfolio management service. It also runs offshore long-short and long-only India-focused funds out of Singapore.